The popular online music streaming service Spotify may be preparing for an initial public offering, as it recruits a U.S. financial reporting specialist required for an IPO.
Companies that plan to go public have to meet U.S. Securities and Exchange Commission (SEC) standards for filing financial disclosures, and Spotify has advertised for a specialist that can assist in financial filings, Reuters reports.
Bankers and lawyers have interpreted Spotify’s search for a financial reporting specialist as a sign the company is preparing to go public. ”It looks like they are preparing themselves for an IPO,” a corporate finance lawyer who is not advising the firm told Reuters.
The Swedish startup has been raising money, bringing in $250 million in funding in November. The company could be worth as much as $8 billion.
Spotify declined to comment on whether it has IPO plans.